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Author Topic: [2018-09-11] Nasdaq Said to Be Building Tool to Predict Crypto Price Movements  (Read 25 times)
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September 11, 2018, 07:10:22 AM

Nasdaq might be on the cusp of giving institutional investors an analytical edge on trading hundreds of crypto assets.

According to a person familiar with the company's plans, the U.S. stock exchange is preparing to add tools for predicting the price movements of crypto assets to its Analytics Hub. The hub, launched last year, draws machine learning and natural language processing capabilities to parse through social media and other alternative data sources to give investors a better way to assess market movement.

To date, the Analytics Hub has focused on traditional assets, but the addition of crypto seems to be another signal of Wall Street's growing interest in the nascent sector.

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September 12, 2018, 08:43:57 AM

Again, this demonstrates the inflow of institutional investors to the market.

I wouldn't really say that the building of such tool is anything majorly positive to bitcoin itself due to the fact that it's treating bitcoin as purely a speculative token rather than a practical currency to use, and that the use of the tool is only going to realistically benefit the elite traders at wall street as well as institutional investors.

There are also no clues as to how exactly their tool will function, so even if it does come out the accuracy of its predictions are probably going to be debatable. But hey, markets are likely to show signs of bullishness in the short term in response to this news, even though there might be no long term benefits to this.

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September 12, 2018, 10:10:22 AM

The very fact hat Nasdaq is taking crypto assets seriously is a good news. I think it can have a positive impact on future SEC decisions because Nasdaq is not just some shady exchange registered in the offshore zone, like SEC can think of Bitfinex, for example, not to mention smaller exchanges. Nasdaq is the second-largest exchange in the world by market capitalization, it is New York based, and to qualify for listing on the exchange a firm must be registered with the SEC, which basically means that Nasdaq and SEC are rather partners than opponents.

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